Intraday technical overdraft

Clearstream’s iTOF (intraday Technical Overdraft Facility) is made available for the purchase of securities at the start of the settlement day, against covering funds to be confirmed by the end of the day’s processing. The time limit on the facility applies at two levels:

  • To individual currencies: the iTOF applies to all major currencies and a separate exotic iTOF limit applies to the lesser-traded currencies.
  • To the overall net positions on the accounts concerned, when linked using the Umbrella Credit facility.
  • The iTOF is a collateralised credit line, accepting a large pool of assets as collateral, valued on a daily basis to ensure optimal credit availability to the client.